Predator Oil & Gas Commences Drilling Operations in Morocco
Why we think this is neutral
The RNS announcement from Predator Oil & Gas Holdings Plc (PRD) provides limited details on the commencement of drilling operations at the MOU-5 well site in Morocco. While the start of drilling is a positive development, the lack of financial information, timeline, and specifics on the prospect make it difficult to assess the potential impact. Without more substantive details, the news appears to be a routine operational update rather than a significant catalyst for the company.
Key Points
- Predator Oil & Gas has commenced drilling operations at the MOU-5 well site in Morocco
- No further updates will be provided until wireline logging and interpretation is complete
- The company highlighted its Jurassic Titanosaurus prospect in the Guercif licence, which has potential for pipeline gas
Summary
Predator Oil & Gas Holdings Plc (PRD) has announced the commencement of drilling operations at the MOU-5 well site in its Guercif licence onshore Morocco. The company states that no further announcements will be made until wireline logging has been completed and the results have been fully interpreted. Predator highlighted its Jurassic Titanosaurus prospect in the region, which has the potential for pipeline gas to power. However, the RNS lacks any financial information or guidance, making it difficult to assess the potential impact of the drilling program.